Jakarta. Indonesia announced Monday that its reference price for crude palm oil, or CPO, had slightly gone up to $963.75 per metric ton for November. 

The CPO reference price determines the export tax and levies. The latest figures mark a $0.14 increase compared to the $963.61 per metric ton set for the previous month.

Trade Ministry’s senior official Tommy Andana attributed the increase to Indonesia’s push for a mandatory palm oil blend rate of 50 percent, a policy better known as B50. Indonesia mandates a certain percentage of palm oil blend in its biodiesel. The current rate stands at 40 percent, but plans are underway to implement B50 next year.

“The CPO palm oil price for November 2025 is due to an expected increase in demand, particularly from Malaysia and B50 plans. The price increases for other vegetable oils, particularly soybean,” Tommy said, as reported by the state news agency Antara.

The government has set the CPO export duty at $124 per metric ton. The export levy is 10 percent of the reference price, which is approximately $96.37 per metric ton for November.  

The government usually sets the reference price based on the average trading price on three major exchanges, namely the Indonesian CPO Exchange, its Malaysian counterpart, and Rotterdam. The price per metric ton between Sep. 20 and Oct. 19 averaged as follows: $887.73 per metric ton (Indonesia); $1,039.76 (Malaysia), Rotterdam ($1,247.67). If there is a price difference of over $40, Indonesia will use the average of the two prices in the median position.

“That’s why we determine the reference price based on the CPO exchanges in Malaysia and Indonesia,” Tommy said.

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